Copper Spot Premiums in Shandong Rose Last Week

Spot premiums in Shandong rose last week, and rebounded to 200 yuan/mt at the week’s end.

Due to the tight supply of goods in the spot market in Shanghai, the premiums in Shanghai soared. This drove up the premiums in Shandong to 240 yuan/mt last Thursday. From the perspective of downstream processing, the terminal purchase enthusiasm was high. However, with the price rebound, consumer demand has shrunk significantly, and terminal demand is more sensitive to absolute prices.

This week, if the tight supply of goods in Shanghai is relieved, it is expected that the premium in Shandong will drop from the high level.